I'm sorry, I wasn't clear enough in my question.
You're right, AvantiCorp was issuing 32MM shares to the owners of Pageant/Ataraxia in a reverse buyout. (AvantiCorp was "buying" Pageant/Ataraxia, but the transaction resulted in Pageant/Ataraxia owning 89% of the outstanding shares).
This was part of a 20F (initial registration). The referenced transaction took place in Dec. 1998. In another part of the form, control of the company is described in this table:
______________________________________________________________________
ITEM 4. CONTROL OF REGISTRANT
The following table sets forth, as of August 2, 1999, certain information
with respect to (i) each person known by the Company to be the owner of more
than 10% of the Company's Common Shares, and (ii) the officers and directors of
the Company as a group:
Title of Class Identity of Person or Group Amount Owned Percent of Class
Common Shares Ataraxia Corp.(1) 3,900,000 10.7%
P. O. Box 267
B.C.M. Cape Building
Leeward Highway
Turks & Caicos
Common Shares Hugh G. O'Neill(1) 3,930,500(2) 10.8%
Common Shares All officers and directors as a 179,500 [less than 1%]
group
(1) Ataraxia Corp., a company incorporated under the laws of the Turks &
Caicos Islands, is controlled by Hugh O'Neill.
(2) Includes 3,900,000 Common Shares owned by Ataraxia Corp. Information as to
direct holdings is as of June 30, 1999. The Company has no reason to
believe that the number as of August 2, 1999 is materially different.
There are no arrangements known to the Company the operation of which may at a
subsequent date result in a change of control of the Company.
______________________________________________________________________
So, Mr. O'neill (or anyone for that matter) could own any amount of additional shares as long as they are held by separate entities in chunks of less than 10% ? |
